Mitsubishi Electric Pickup Truck: Investment of Over $10 Billion in EVs
Mitsubishi Motors recently disclosed their strategic move to channel up to $13.2 billion into electrification as part of their global resurgence agenda. This substantial investment is set to usher in a diverse array of products, including the introduction of an electric pickup truck alongside traditional internal combustion engine pickups.
Mitsubishi’s Mid-Term Business Plan and Electrification Investment
The unveiling of the electric pickup truck is part of Mitsubishi’s Mid-Term Business Plan, slated to allocate between $10.26 billion to $13.19 billion towards electrification initiatives by 2030. This substantial funding will be directed towards research and development as well as setting up new facilities. A significant portion, more than $1.5 billion, is earmarked for securing an annual 15 gigawatt-hours battery supply. Mitsubishi aims to curtail vehicle CO2 emissions by 40% by 2025 and slash operational CO2 in half by 2030.
Focus on Electrification and Product Plans
Mitsubishi envisions that by 2035, electric vehicles (EVs) will constitute half of its global sales, as the company progresses towards full electrification. However, for the next five years, the company will continue to prioritize internal combustion engine (ICE) vehicles, planning to launch 16 products globally, out of which nine will be electrified in varying capacities.
A Closer Look at Mitsubishi’s Product Range
The scope of Mitsubishi’s upcoming products, as highlighted in their presentation, encompasses a wide range of vehicles, spanning from electric pickups to full-size SUVs and compact EVs. Notably, Mitsubishi’s U.S.-bound electric vehicles will be developed in collaboration with local partner Nissan within the Renault-Nissan-Mitsubishi Alliance, leveraging Nissan’s domestic manufacturing capabilities to qualify for federal EV tax credits.
Prospects for the Electric Pickup Truck
Mitsubishi’s strategic product planning includes the potential introduction of an electric pickup truck targeted towards key markets in Asia and Australia. The company is evaluating market demands, considering factors such as driving range preferences and affordability. Mitsubishi’s CEO envisions a growing trend for battery-electric pickups, citing the popularity of models like the Ford Lightning F-150 in the U.S.
Mitsubishi’s Future Outlook and Performance Offerings
In addition to electrified products, Mitsubishi is poised to reintroduce high-performance vehicles, starting with a rumored “almighty” Outlander PHEV-based Ralliart SUV. With a focus on innovation and desirability, Mitsubishi aims to strengthen its brand positioning and market presence.
Conclusion
Mitsubishi’s ambitious investment in electrification signifies a significant step towards a sustainable and competitive future in the automotive industry. The company’s strategic product lineup, including the forthcoming electric pickup truck and performance offerings, reflects its commitment to innovation and customer-driven solutions.
FAQs
1. When will Mitsubishi achieve full electrification in its product portfolio?
Mitsubishi aims to achieve full electrification by 2035, with electric vehicles projected to comprise half of its global sales by that time.
2. How does Mitsubishi plan to address the demand for electric pickups in the U.S. market?
Mitsubishi intends to collaborate with local partner Nissan to develop U.S.-bound electric vehicles and leverage Nissan’s manufacturing facilities to qualify for federal EV tax credits.
3. What performance models can we expect from Mitsubishi in the near future?
Mitsubishi is set to reintroduce performance vehicles, starting with an Outlander PHEV-based Ralliart SUV and potentially other high-performance models in the pipeline.
For more information on Mitsubishi’s electrification plans and product roadmap, reach out to james@thedrive.com for inquiries and tips.